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GENERAL RANKINGS – 5 FX SCAM BROKERS ON AUGUST 2022 BY WIKIFX
Abstract：As we know so far, forex trading is one of the most profitable businesses in the financial market. However, it doesn’t mean everyone can win big while trading forex. instead, many people suffer a heavy loss in the forex market. The biggest challenge for them lies in seeking a solid broker. Based on WikiFX’s official website, we have listed the 5 FX scam brokers in August 2022 to protect you from getting scammed.
Check the scammers list by WikiFX App
There are a lot of scam brokers in the forex market. It is hard for us to verify them by ourselves. WikiFX offers you a visual way to see the scammers list. But how to do that？
First of all, download the WikiFX App
On WikiFX App, click the “Scams” button.
Then switch to the “Frauds” category.
Scam Brokers List
Topping the Scam broker list this month is FVP Trade. As we know so far, FVP Trade has recently caught so many people‘s attention. WikiFX has exposed the cases of FVP Trade’s freezing funds. And we believe that it is a scam broker getting involved in a Ponzi Scheme. WikiFX has given this broker a low score of 1.80/10. If you want to know more about this broker, you can check this link. https://www.wikifx.com/en/newsdetail/202207299924230394.html
Bold Prime is an offshore broker that opened on March 1st, 2021, registered in Saint Vincent and the Grenadines (SVG). Tradable instruments available on the Bold Prime platform include forex currency pairs, commodities, indices, and stocks. There are too many traders complaints against this broker. Therefore, WikiFX has given this broker a low score of 1.73/10.
Launched in 2020, BKYHYO LTD is an online forex broker registered in the United Kingdom, offering its clients access to the worlds most trading platform-MT4, a wide range of trading instruments, leverage up to 1:500. WikiFX has given this broker a low score of 1.27/10.
VOREX is said to be established in Georgia in 2008, offerings its clients access to a series of financial markets, including Global Stocks, Cryptocurrency, Commodity Futures, Foreign Exchange. VOREX provides its trading services with clients ranging from seasoned and novices to fund managers and institutional clients. WikiFX has given this broker a rating of 1.06/10.
Lilium
Accroding to WikiFX, Lilium is online forex broker getting involved in a Ponzi Scheme. It is claimed itself to be regulated in the UK, but we find out that the regulatory status of this broker is Unauthorized.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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The 5%ers Review: Is it a Scam or Legit? Find Out from These Trader Comments
Did you face reduced leverage and hiked fees without any explanation from The 5%ers broker? Do you find The 5%er rules strange for getting a funded account from this prop trading firm? Has the broker closed your trade inappropriately, preventing you from making gains in the forex market? All these allegations have dominated The 5%ers review segment online. Looking at this, the WikiFX team investigated and found some startling comments against the broker. In this article, we have shared those complaints. Read on!
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BROKSTOCK Exposed: Traders Report Login Errors, Withdrawal Issues & Incompetent Customer Support
Is your BROKSTOCK trading account full of inefficiencies? Do the recurrent BROKSTOCK login errors prevent you from opening and shorting positions at a favorable price? Has the broker failed to honor your withdrawal requests? Do you face order execution price issues? Has the customer support service failed to resolve your queries? You are not alone! In this BROKSTOCK review article, we have shared some complaints that need a close introspection. Read on to explore them.
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OmegaPro Review: Traders Flood Comment Sections with Withdrawal Denials & Scam Complaints
Has your deposit and withdrawal scenario worsened after the initial good experience at OmegaPro, a UK-based forex broker? Does the broker ask you to invest when withdrawing your funds? Did the broker officials trap you with their false promises of compound interest on your deposit? Have you found it impossible to transfer funds from your OmegaPro login to another broker’s account? Do you witness a lack of support when dealing with these unfortunate trading circumstances? These are no longer isolated complaints — they have allegedly become the reason for OmegaPro’s tarnished trust and reputation within the trading community. Read on as we share the OmegaPro review in this article.
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Inzo Broker Review 2025: A Complete Look at Features, Costs and User Claims
Inzo Broker presents itself as a modern forex and CFD broker, started in 2021 and registered in Saint Vincent and the Grenadines. At first glance, it offers an attractive package for traders: access to the popular MetaTrader 5 (MT5) and cTrader platforms, different types of accounts for various budget levels, and a wide selection of assets to trade. These features are made to attract both new and experienced traders. However, a closer look shows a big difference between these advertised benefits and the real risks. The broker works under an offshore regulatory system, which gives limited protection to investors. More importantly, Inzo has collected many serious user complaints, especially about withdrawing funds and changing trading conditions unfairly. This mix of weak oversight and serious user claims creates a high-risk situation that potential clients must carefully think about. This review will break down these parts to give a clear, fact-based view.
Original 3h
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